Consumer Vehicle Loan FAQ

  1. What is your target market?

    Salary/wage earners who have been in employment (current employer) for more than 12 months.

  2. How much cash contribution can I put towards my Consumer Vehicle Loan?

    Cash contribution or equity is at a minimum of 20% of the cost price of the intended motor vehicle. Applicant must confirm source of deposit.

  3. Do I have to provide additional security?

    If you prefer, however 20% minimum deposit of the cost price of the intended motor vehicle is mandatory.

  4. What are the security options?

    BSPF takes security over chattels such as the intended motor vehicle for finance.

  5. Are financial reports compulsory in Consumer Vehicle Loans?

    Not applicable.

  6. Which Car Dealer do I seek additional information?

    We have a panel of approved or Accredited Motor Dealers.

  7. Do you fund overseas purchase of assets?

    The unit/motor vehicle must be in PNG through any BSPF panel of approved or accredited car dealers.

  8. What is the turn-a-round time for an application that has all the required information?

    A response on the application will be provided within 24 hours of receipt.

  9. How do I apply - whether locally or remotely?

    You can call into any of our approved panel or accredited car dealers to apply.

  10. What happens if I default under the agreement?

    Under the agreement, you have certain obligations to meet, including the obligation to make regular payments. BSPF has a security interest in the asset that it has financed for you. If you fail to meet your commitments under the agreement, BSPF will be entitled to repossess and sell your asset.

  11. Does BSPF finance taxis or PMVs?

    BSPF does not currently provide finance for assets that will be used as a taxi or PMV under the Consumer Vehicle Loan.

  12. What are the requirements or what do I need to provide to apply?

    Visit any of our approved panel or accredited car dealers. You can also download our application form, which details our requirements on  or email us directly on . All completed application forms together with the required documents are to be supplied to your chosen car dealer.

  13. Where can I get more information?

    BSP Finance (PNG) Limited landline + (675) 305 6428 during business hours or email Talk to us today! 

Our Products

Borrowing for asset purchases, enables clients to use BSPF's money to obtain assets, that will generate income for their business.

About BSP Finance

BSP Finance is a specialist Asset Finance company providing innovative and fast financial solutions to our customers.